Hideaways Club targets region’s high rollers
A PROPERTY investment fund launched by the founder of Fitness First and and backed by former British tennis hero Tim Henman, is wooing high-net worth business people from the North West.
The Hideaways Club, which is based in London, is seeking to raise the profile of what it is and does in the region.
The club has two funds – The Classic and City – and allows investors to buy into a portfolio of luxury properties around the world.
Targeted at professionals and entrepreneurs, the Hideaways Club, which was founded in 2007, claims to be a more financially astute way of owning a second property overseas.
It’s Classic fund offers a share in 37 luxury holiday homes around the world, ranging from the French Riviera, the Swiss Alps to Marrakech, Morocco and Bali and costs £250,000 to join, with a £14,000 annual fee.
Depending on when they book, members will receive between six to eight weeks in the properties of their choice. A half share option exists for £132,500 a year, with annual fees of £7,000
The more-recently launched City Fund has 17 luxury city centre apartments in New York, Paris and Florence and other sought-after locations. Its entry price is £65,000, while full membership costs £120,000 with fees of £5,300 giving members 24 nights per year.
As a member, investors own a share of the company that holds all the properties for the club. Shares are revalued based on the value of the property portfolio and the demand for the shares. When a member sells a share there is a 5% sales fee and the member receives 80% of the capital gain.
As well as targeting the UK regions, The Hideaways Club, has been driving sales in Asia too, as it is looking to grow the number of the properties in its portfolio.
It current has 240 members and over the next three years is targeting 600 members and 100 properties.
This year Formula 1 driver Nick Heidfeld joined Tim Henman in becoming an ambassador for Hideaways.
Mike Balfour, chairman and co-Founder, said, “The extremely
positive testimonials from our Members confirms our belief that the Club is not just a financially astute way to own and use overseas properties but also provides the means to enjoy memorable holiday experiences.
“Members benefit from the capital growth in the value of the entire portfolio
whilst enjoying relaxing holidays in amazing locations all organised by the club’s local concierge. This is proving to be a very attractive proposition”.
